Deutsche Bank AG boosted its holdings in shares of Welbilt, Inc (NYSE:WBT) by 520.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,078,541 shares of the industrial products company’s stock after purchasing an additional 904,609 shares during the period. Deutsche Bank AG owned about 0.77% of Welbilt worth $11,981,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in WBT. Gates Capital Management Inc. boosted its position in Welbilt by 71.7% during the 4th quarter. Gates Capital Management Inc. now owns 7,305,875 shares of the industrial products company’s stock valued at $81,168,000 after acquiring an additional 3,050,151 shares in the last quarter. Impax Asset Management Group plc boosted its position in Welbilt by 24.6% during the 4th quarter. Impax Asset Management Group plc now owns 7,383,832 shares of the industrial products company’s stock valued at $82,034,000 after acquiring an additional 1,459,895 shares in the last quarter. Dudley & Shanley Inc. boosted its position in Welbilt by 95.1% during the 4th quarter. Dudley & Shanley Inc. now owns 2,496,420 shares of the industrial products company’s stock valued at $27,735,000 after acquiring an additional 1,217,045 shares in the last quarter. Handelsbanken Fonder AB boosted its position in Welbilt by 94.0% during the 4th quarter. Handelsbanken Fonder AB now owns 2,499,961 shares of the industrial products company’s stock valued at $27,775,000 after acquiring an additional 1,211,243 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. bought a new stake in Welbilt during the 4th quarter valued at approximately $9,924,000. Institutional investors own 96.46% of the company’s stock.
Shares of WBT opened at $16.99 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 7.09. Welbilt, Inc has a 52 week low of $10.66 and a 52 week high of $23.85. The company has a market capitalization of $2.36 billion, a PE ratio of 21.78 and a beta of 1.81.
Welbilt (NYSE:WBT) last issued its quarterly earnings results on Tuesday, February 19th. The industrial products company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. Welbilt had a return on equity of 71.21% and a net margin of 4.76%. The firm had revenue of $406.10 million for the quarter, compared to analysts’ expectations of $391.96 million. During the same period in the previous year, the firm posted $0.26 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, analysts forecast that Welbilt, Inc will post 0.78 earnings per share for the current fiscal year.
In other news, CFO Haresh Shah sold 1,849 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $16.06, for a total value of $29,694.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Richard N. Caron sold 13,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $16.12, for a total value of $209,560.00. Following the completion of the sale, the executive vice president now directly owns 53,525 shares in the company, valued at $862,823. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,760 shares of company stock worth $478,775. Insiders own 0.37% of the company’s stock.
Several analysts have weighed in on the company. William Blair reaffirmed a “buy” rating on shares of Welbilt in a research report on Friday, January 11th. ValuEngine cut Welbilt from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 2nd. Longbow Research set a $16.00 price objective on Welbilt and gave the company a “buy” rating in a research report on Monday, January 14th. Robert W. Baird set a $18.00 price objective on Welbilt and gave the company a “buy” rating in a research report on Wednesday, February 20th. Finally, Barclays reaffirmed a “buy” rating and set a $19.00 price objective on shares of Welbilt in a research report on Wednesday, February 20th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Welbilt presently has a consensus rating of “Buy” and a consensus target price of $20.63.
Welbilt Company Profile
Welbilt is a leading global supplier of commercial foodservice equipment. Their broad, award-winning hot- and cold-side product portfolio includes many brands, including Cleveland Range, Convotherm, Delfield, Frymaster, Garland, Kolpak, Lincoln, Manitowac, Merco, Merrychef, and Multiplex Beverage.
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